Four Per Cent Industrial Dwellings Company
Encyclopedia
The Four Per Cent Industrial Dwellings Company was a philanthropic model dwellings company
, formed in London
in 1885, during the Victorian era
.
In 1952, it was renamed the Industrial Dwellings Society (1885) Ltd. and is today known as IDS. The IDS manages over 1,400 properties in the London Borough
s of Hackney
, Tower Hamlets
, Southwark
, Redbridge
and Barnet
. Its president is Sir Evelyn de Rothschild
, a descendent of the banker Nathan Mayer Rothschild
, who founded the Society.
's enquiry into "spiritual destitution" in 1884
The company was founded in 1885 by Rothschild and a board of other prominent, Jewish philanthropists including Frederick Mocatta and Samuel Montagu, to provide "the industrial classes with commodious and healthy Dwellings at a minimum rent". The company was founded as a private capital concern, with capital of £50,000 in 5000 shares of £10 each:
Of this, Rothschild himself subscribed £10,000, and even paid for the site of the Company's first project (in Flower and Dean Street, Spitalfields
) himself, months before the first meeting of the Company directors.
These first buildings were to be known as Charlotte de Rothschild Buildings, after Lord Rothschild's mother. and took up parts of Thrawl Street, Flower and Dean Street, and George Street, Spitalfields.
The majority of the Four Per Cent Company's tenants were Jewish. By 1905, it had built six large blocks (known as 'Rothschild houses' comprising around 1,500 flats, or 3,800 rooms. "Each had two rooms, shared a toilet and kitchen with the adjacent flat, and opened to outdoor halls and stairways. In order to reimburse investors at the promised rate, the six storey buildings occupies no less than 50% of the ground space and tenants paid about 5s to 6s a week (25p to 30p). These grey stone houses were drab and draughty, but they were also solid and sanitary, and were probably better flats than those in other projects of the time"
, accommodation for people with special needs, key worker
housing and shared ownership properties. It still specialises in culturally-specific housing and acquired the Ajex Housing Association for Jewish ex-servicemen/women in 2006; IDS also work with the Otto Schiff housing association, Agudas Israel Housing Association
and the Bangla Housing Association.
Model dwellings company
Model Dwellings Companies were a group of private companies in Victorian Britain that sought to improve the housing conditions of the working classes by building new homes for them, at the same time receiving a competitive rate of return on any investment...
, formed in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
in 1885, during the Victorian era
Victorian era
The Victorian era of British history was the period of Queen Victoria's reign from 20 June 1837 until her death on 22 January 1901. It was a long period of peace, prosperity, refined sensibilities and national self-confidence...
.
In 1952, it was renamed the Industrial Dwellings Society (1885) Ltd. and is today known as IDS. The IDS manages over 1,400 properties in the London Borough
London borough
The administrative area of Greater London contains thirty-two London boroughs. Inner London comprises twelve of these boroughs plus the City of London. Outer London comprises the twenty remaining boroughs of Greater London.-Functions:...
s of Hackney
London Borough of Hackney
The London Borough of Hackney is a London borough of North/North East London, and forms part of inner London. The local authority is Hackney London Borough Council....
, Tower Hamlets
London Borough of Tower Hamlets
The London Borough of Tower Hamlets is a London borough to the east of the City of London and north of the River Thames. It is in the eastern part of London and covers much of the traditional East End. It also includes much of the redeveloped Docklands region of London, including West India Docks...
, Southwark
London Borough of Southwark
The London Borough of Southwark is a London borough in south east London, England. It is directly south of the River Thames and the City of London, and forms part of Inner London.-History:...
, Redbridge
London Borough of Redbridge
The London Borough of Redbridge is a London borough in outer north-east London. Its administrative headquarters is at Redbridge Town Hall in Ilford. The local authority is Redbridge London Borough Council.-Etymology:...
and Barnet
London Borough of Barnet
The London Borough of Barnet is a London borough in North London and forms part of Outer London. It has a population of 331,500 and covers . It borders Hertfordshire to the north and five other London boroughs: Harrow and Brent to the west, Camden and Haringey to the south-east and Enfield to the...
. Its president is Sir Evelyn de Rothschild
Evelyn Robert de Rothschild
Sir Evelyn Robert Adrian de Rothschild is a British financier, and a member of the Rothschild family.-Early life:The son of Anthony Gustav de Rothschild and Yvonne Cahen d'Anvers , he was named after his uncle Evelyn Achille de Rothschild who was killed in action in World War I...
, a descendent of the banker Nathan Mayer Rothschild
Nathan Rothschild, 1st Baron Rothschild
Nathan Mayer Rothschild, 1st Baron Rothschild, Baron de Rothschild was a British banker and politician from the international Rothschild financial dynasty.-Life and family:...
, who founded the Society.
History
The foundation of the company followed the United SynagogueUnited Synagogue
United Synagogue is an organisation of London Jews that was founded with the sanction of an Act of Parliament, in 1870. , it remains the largest religious grouping within the British Jewish community and indeed in Europe, covering 62 Orthodox Jewish communities...
's enquiry into "spiritual destitution" in 1884
The company was founded in 1885 by Rothschild and a board of other prominent, Jewish philanthropists including Frederick Mocatta and Samuel Montagu, to provide "the industrial classes with commodious and healthy Dwellings at a minimum rent". The company was founded as a private capital concern, with capital of £50,000 in 5000 shares of £10 each:
It is estimated that if the rentals were based on a net return of 4 per cent excellent accommodation consisting of two rooms, a small scullery, and w.c. could be supplied at a weekly rental of five shillings per tenement; and it is considered that many investors will be found willing and even anxious to contribute their capital towards a scheme, which while yielding a moderate and safe return, will largely tend, not only to improve the dwellings of the poor, but also reduce the high rates now paid for the minimum of accommodation.
Of this, Rothschild himself subscribed £10,000, and even paid for the site of the Company's first project (in Flower and Dean Street, Spitalfields
Spitalfields
Spitalfields is a former parish in the borough of Tower Hamlets, in the East End of London, near to Liverpool Street station and Brick Lane. The area straddles Commercial Street and is home to many markets, including the historic Old Spitalfields Market, founded in the 17th century, Sunday...
) himself, months before the first meeting of the Company directors.
These first buildings were to be known as Charlotte de Rothschild Buildings, after Lord Rothschild's mother. and took up parts of Thrawl Street, Flower and Dean Street, and George Street, Spitalfields.
The majority of the Four Per Cent Company's tenants were Jewish. By 1905, it had built six large blocks (known as 'Rothschild houses' comprising around 1,500 flats, or 3,800 rooms. "Each had two rooms, shared a toilet and kitchen with the adjacent flat, and opened to outdoor halls and stairways. In order to reimburse investors at the promised rate, the six storey buildings occupies no less than 50% of the ground space and tenants paid about 5s to 6s a week (25p to 30p). These grey stone houses were drab and draughty, but they were also solid and sanitary, and were probably better flats than those in other projects of the time"
Present day
Today, IDS manages a large number of properties, predominantly in the East of London, but also in Southwark and Barnet, including flats, houses, sheltered housingSheltered housing
Sheltered housing is a British English term covering a wide range of rented housing for older and/or disabled or other vulnerable people. Most commonly it refers to grouped housing such as a block or "scheme" of flats or bungalows with a scheme manager or "officer"; traditionally the manager has...
, accommodation for people with special needs, key worker
Key worker
A key worker is a public sector employee who is considered to provide an essential service. The term is often used in the United Kingdom in the context of those essential workers who may find it difficult to buy property in the area where they work....
housing and shared ownership properties. It still specialises in culturally-specific housing and acquired the Ajex Housing Association for Jewish ex-servicemen/women in 2006; IDS also work with the Otto Schiff housing association, Agudas Israel Housing Association
Agudas Israel Housing Association
Agudas Israel Housing Association, also known by the acronym AIHA, is a Registered Social Landlord providing low-cost rental housing to the Jewish community in London and Salford...
and the Bangla Housing Association.
Buildings
- Charlotte de Rothschild Dwellings, Flower and Dean Street, Spitalfields (aka Rothschild Buildings) (1886)
- Nathaniel Dwellings, Flower and Dean Street, Spitalfields
- Mocatta House, Brady Street, WhitechapelWhitechapelWhitechapel is a built-up inner city district in the London Borough of Tower Hamlets, London, England. It is located east of Charing Cross and roughly bounded by the Bishopsgate thoroughfare on the west, Fashion Street on the north, Brady Street and Cavell Street on the east and The Highway on the...
(1890) - Navarino Mansions, Dalston Lane, Hackney (1903-5)
- Stepney Green Court, Stepney Green
Further reading
- White, J., (1980) Rothschild Buildings: life in an East End tenement block, 1887-1920
- Tarn, N.N. (1973) Five per cent philanthropy